Rosneft board of directors approves several gas deals with Itera
MOSCOW. Feb 21 (Interfax) - Rosneft's board of directors has approved several gas deals with Itera , in which Rosneft recently bought a 51% stake, the Russian state-owned oil company said in a statement.
Itera is organizing the transportation of 1.5 billion cubic meters (bcm) of gas for 1.559 billion rubles (including VAT).
In addition, Rosneft will buy 1.5 bcm of gas from Itera for 3.096 billion rubles (including VAT).
Rosneft will also sell 1.33 bcm of natural and associated gas to Itera for 2.624 billion rubles (including VAT).
At the moment, Rosneft produces around 13 bcm of gas a year (mostly associated), and Itera produces roughly the same amount. Itera procures another 8.5 bcm of gas from other companies; in particular, 7 bcm from NOVATEK .
